Employment: Contractors Weekly Multiplier for Income Assessment
Our standard acceptability
Indicates how we assess contractor income which will either be on a self-employed basis or based on the contractor's day rate indicated by a weekly multiplier. For example 'Lender A' will calculate a contractor's income based on the weekly amount * 48 where '48' indicates the weekly multiplier and 'Lender B' will treat them as self-employed and income will be assessed in line with their self-employed policy.
We can consider contractor workers who are self-employed (possibly via their own limited company) using a multiple of their weekly contract rate or simply taking their income via their accounts/SA302s.
- employed applicants
29 August 2018